Pinterest (NYSE:PINS) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Pinterest (NYSE:PINS) in a research report released on Wednesday, Benzinga reports. The firm currently has a $48.00 price target on the stock, up from their previous price target of $45.00.

A number of other analysts have also recently issued reports on PINS. Argus raised shares of Pinterest from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Thursday, January 18th. Wedbush raised their price target on Pinterest from $35.00 to $38.00 and gave the company a neutral rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on Pinterest from $34.00 to $38.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Evercore ISI lifted their target price on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research note on Friday, January 26th. Finally, Piper Sandler reissued an overweight rating and issued a $48.00 price target on shares of Pinterest in a report on Tuesday, March 26th. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $40.82.

Pinterest Price Performance

PINS stock opened at $40.41 on Wednesday. The company has a market cap of $27.44 billion, a P/E ratio of 192.43, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60. The stock’s fifty day moving average price is $34.79 and its 200-day moving average price is $34.53.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. As a group, analysts expect that Pinterest will post 0.37 earnings per share for the current year.

Insider Activity

In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.65, for a total value of $733,000.00. Following the completion of the transaction, the director now directly owns 54,215 shares of the company’s stock, valued at $1,986,979.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,471 shares of company stock worth $5,773,431. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently made changes to their positions in PINS. ARK Investment Management LLC increased its stake in Pinterest by 152.3% during the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after purchasing an additional 872,016 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Pinterest by 57.9% in the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after acquiring an additional 323,547 shares during the period. International Assets Investment Management LLC raised its stake in Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after acquiring an additional 77,974 shares during the last quarter. Acadian Asset Management LLC lifted its position in Pinterest by 53.1% during the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after acquiring an additional 1,089,299 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Pinterest by 55.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after purchasing an additional 62,117 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.